Property and equipment consisted of the following (in thousands):


	June 30,			December 31,
	2026			2025
Finance lease right of use assets	$	21,337		$	20,722
Lab equipment		42,462			37,384
Computers and software		3,513			3,513
Furniture and fixtures		2,023			2,023
Leasehold improvements		11,257			9,661
Construction in process		1,467			4,105
Total property and equipment		82,059			77,408
Less accumulated depreciation		(54,754	)		(48,257	)
Property and equipment, net	$	27,305		$	29,151

The Company leases equipment under agreements which are classified as finance lease liabilities in the accompanying unaudited condensed consolidated balance sheet. The equipment and obligations related to the leases are recorded at the

present value of the lease payments. Depreciation is computed on a straight-line basis over the shorter of the estimated useful lives of the assets or remaining lease term.

Depreciation and amortization expense for the three and six months ended June 30, 2026 was $3.2 million and $6.5 million, respectively. Depreciation and amortization expense for the three and six months ended June 30, 2025 was $3.3 million and $6.7 million, respectively.